Latest Answer: It is also come to know that the joint venture had proposed development of 44 duplex apartments in two 65-storeys towers on the Glaxo plot. The company could not immediately go ahead as the Brihanmumbai Municipal Corporation had demanded a fee from Glaxo worth up to 50% of the value of the land sale, which was Rs 108 crore. But the Supreme Court later set aside the BMC's decision, making the way for the project to go ahead.
Latest Answer: Hi all,
It is totally opposite of expectations that the delay in corrections in the development plan will disable the regulatory approval process, the proposals received by the corporation in the first 6 months of the current financial year are almost equal to the numbers received in the whole of the last year.
Q:The total agreement value will be Rs.10000000/- approx. Builder has got CC but not OC. Now I would like to know what Rate of VAT and Service Tax is applicale and on which amount. I came to that since the builder got CC no VAT or Service Tax is payable. PL enlighten me the actual position of these inditrect taxes.........For your information area of flat is 780 sq.ft Carpet and 873.6 is Built-up...
Latest Answer: Hello Sir,
Service Tax and VAT are paid only for under construction properties. And Land cost is exempted from both these charges.
A property is termed "under construction" till the builder receives a "completion certificate" from the relevant authorities. If the entire amount for the property purchase is paid after the receipt of a completion certificate, there would be no service tax levied on the purchase of the property.
Latest Answer: I am sure Kunal that this path-breaking project will create an urban living space with modern infrastructure and amenities in the heart of South Mumbai. The redevelopment visualize transforming Bhendi Bazaar into a various comfortable community, with a healthy neighbourhood creating a lively modern urban area with state-of-the-art infrastructure.
Q:Sir, I have selected one flat in one of the project in Kanakapura Road, Bangalore and paid an advance of Rs.1 Lac. After that builder has given certain document set, in which there is no commencement certificate issued by BBMP. When i asked for that, they told that there are 15-20% voilations are there, hence unable to get commencement certificate and also saying not possible to get even occupancy certificate. What to do?
Latest Answer: Please do not go forward with this kind of property which has problems for approvals from bbmp. And it might be a fraud company so advice you to ask the company to refund the 1lakh rupees which you have already paid to the builder.
Latest Answer: @abhijit,
In order to control the increasing case of illegal construction in various metros, the local governments have proposed and implemented regulations regarding an OC. In Hyderabad, the Greater Hyderabad Municipal Corporation (GHMC) has proposed to connect OC with property registration. In Mumbai, according to the Bombay High Court, it is illegal to move into an apartment without an OC.
Q:I am seeking information on the procedure to obtain the BMC approved plan and commencement certificate for a building in Andheri East, Mumbai,Can someone help me for the same, u can mail me on dronny_76@yahoo.co.in
Latest Answer: Hi Suresh,
Have you read the latest news? As per the Maharashtra Govt. in an attempt to cut red tape and delays in the building approvals system, the state government has planned a "one-stop" approval process for building projects in Mumbai.